The best MBA programmes for you!

The best MBA programmes for you!

In an online chat with readers between 4 pm and 5 pm, Dr Ranjit Goswami, dean, IMT Nagpur answered questions on the various MBA programmes available in the country, the eligibility criteria for admission and offer advice on how to pick the right course and institute.

If you haven't decided on the institute, perhaps, you can consider doing one from the Institute of Management Technology Nagpur?

Started in 2004, the private management institute, in the last few years has consistently managed to position itself in various leading business school rankings.

Very recently, it was ranked among the Top 25 management institutions of India in a nation-wide survey conducted by business magazine Business India's Best B-schools survey 2013.

The institute enrols candidates based on their performances in the CMAT, XAT and GMAT.

To know more about the institution, the various MBA programmes offered and details into the admission procedure, Rediff.com had organised a chat with Prof Ranjit Goswami, dean of Institute of Management Technology Nagpur on December 26 between 4 pm and 5 pm IST.

For those who missed the live chat, here's the unedited transcript:

john: Dear Sir, I ahve one question that which course is better? wht are the placment and job prospects after completion of the course?

Ranjit Goswami: John, Global economic cycles are getting shorter. So, when one enters and MBA, finance may be down - but within two years, the sector may pick up. Therefore, you see year to year salary in B-Schools vary a lot, when economy is up, they get a lot; little slow down, and it falls too. In my opinion, a balanced understanding with general focus can act as a hedge. IMT Nagpur offers dual specialisation.

Ranjit Goswami: In a typical MBA classroom, more the diversity, better is the learning and quality of discussions. Your profile is great, but think if you can have an MBBS doctor, an economist, a psychologist, a lawyer, an engineer discussing compensation package for marine engineers - you will get many perspectives. Your perspective would have direct experiential component, but you will know how others think.

Ranjit Goswami: Three years full time post-graduation, with probably certain minimum marks (55 per cent or 50 or something), CAT/XAT/CMAT/GMAT score for cut-off & then GD/PI past performances. You will get details herehttp://rediff.ly/2mwyh

jitesh: How to select an institute for full-time MBA or PGDM program? Institute's infrastructure? Teaching faculty? Specialization offered? How to we find it all?

Ranjit Goswami: You got it mostly right...(1) Physical infrastructure, though now many claims to have it as per truly world-standard (as IMT Campuses have it). Most important is: academic depth/diversity. Full time faculty strength, their background. In India, I feel having a right-mix of industry-academic faculty helps as Indian B-School faculty members are not engaged into consultancy. Experience matters.

omi: What is the difference between MBA and PGDM programme?

Ranjit Goswami: MBA is given by university or a college affiliated under a university (under UGC). PGDM is given by autonomous institutes like IIMs/IMT Nagpur & Ghaziabad/XLRI, etc. and comes under AICTE. In India, due to autonomy, innovation - most top ranking b-schools are PGDM institutes. Globally, PGDM as a degree is not well known. All India University (AIU) makes PGDM equivalent to MBA.

kapadia: What will be the fee structure for MBA in correspondence, duration of course, will this institute provide placements for the students.

Ranjit Goswami: We do not have that (IMT Nagpur). Please refer to IMT CDLhttp://rediff.ly/2mwzv

sudaram: hi, this is sundaram wants to know the detail information regarding the admission for MBA as a part time,courses available and the fee structure.

Ranjit Goswami: IMT Nagpur does not offer part time MBA. IMT CDL does, and they probably have centers all over India http://rediff.ly/2mwzvAs suggested to one earlier, executive/full time courses are better than part time as management is not merely about theory. Each context differs. What works for ICICI Bank may not work for SBI...and that's what comes out in classroom discussions.

bhanu: Sir my budget is 10 lakhs and I want to pursue an MBA in HR. Where can I apply?

Ranjit Goswami: Within ten lakhs, you would get good B-Schools. I understand the financial constrain, at the same time, the best investment one can make is in one's career. Time, to me, is more important than money. Within ten-fifteen lakhs, you will get IIMs/IMTs/XLRI. FMS comes out to be cheapest that way...

mustafa: I have done MBA (HR) already and now want to do some specialisation or diploma course in HR, can you suggest me regarding this and the courses?

Ranjit Goswami: Better go for a PhD.I am against too many degrees/diplomas - do one and do that well. Those who graduate from Harvard or IIMA will do one, and that is good enough.

shaishav: Hi Ranjit,I want to do MBA HR course correspondence, can I know if any classes will be provided in weekends..in Nagpur..if yes pls provide me the details regarding the course fee,timings and address.

Ranjit Goswami: We have a CDL section http://rediff.ly/2mwzv. However, if there is no financial/other constraint, I would suggest you to go for a full time course. The real learning happens in classroom, when you see multiple perspectives of one given problem, from various participating students. Class discussions and participation is the biggest advantage of a full time course.The CDL url... http://rediff.ly/2mwzv

'How to pick the right business school that offers good return on investment?'

waman: I have done my bachelors degree in management with first class n i hv worked in my family business for 3 years.am i eligible for mba? Kindly help..!!

Ranjit Goswami: Your background and experience would be wonderful. And yes, you are eligible. However, while dealing with many students in classroom who come from business family, I have seen they are superficially involved with their family business (as seniors do most). Please remember that the devil lies in the depth - get involved with deeper issues, and then you can understand MBA courses better.

shinde: Dr goswami, How to pick the right business school that offers good return on investment?

Ranjit Goswami: Pick up one with best ranks (though ranks are not scientific and some misuse with ranks in India remain). Chose one with best infrastructure - hard infrastructure are more or less same everywhere now, what matters is soft infrastructure. That is quality and diversity and depth of faculty. IMT Nagpur has more than 40 full time faculty, and honestly, very less B-Schools, among top, have it.

anil: hi, I just wanted to know which course is better after BCom or BBA because my aim is to do MBA in end.

Ranjit Goswami: The functional specialization matters for first few years (like one earlier question on entrepreneurship - should be done if your family has a business, but doing an MBA in entrepreneurship does not make a better entrepreneur; globally it is proven by research). Management is essentially cross-disciplinary, & IMT Nagpur emphasises that point. A marketing guy needs finance/HR too.

salim: I am in my final year of mechanical engineering and i am not sure if i should pursue an MBA or not. Is it good for my career and help my engineering degree? can you pls help me decide?

Ranjit Goswami: Hi Salim, Your question is relevant for many final year engineering students. Back in 1992, when I graduated from IIT Kharagpur, few of my friends directly landed at IIMs/XLRI and now they feel they could have done better had they had few years of experience (in spite of reaching CXO positions). I did it after four years of experience...depends on what job and choices you have post-engineering.

vishal: Dear Sir, i have done b.com and working in accpunts department wants to do MBA plz guide me

Ranjit Goswami: How many years of experience with accounts and in which job profile and company profile? Anyway, background in accountancy helps, but as an MBA - you need to look at financial numbers to gauge health of the company, like doctors do. MBAs will not generate accounting statements or annual statements. But they are supposed to read it and analyse it. Moreover, you also learn many new things.

haresh: What is the annual fee for a PGDip programme at your institute? Do you offer scholarships or fee waivers? How can I apply?

Ranjit Goswami: Around Rs. 11 lakhs, including Tuition/lodging/boarding. You may get it at our admission page http://rediff.ly/2mwyh

Manasi Nath: How much should i score in cmat to apply to iMT

Ranjit Goswami: In terms of percentile, you should be around top 80 per cent. This varies from year to year based on number of applicants to IMT Nagpur. We get more than 95 per cent students from CAT. Our admission process now is open and applicant: acceptance ratio with us has been quite high so far. However, you may still apply with lower score - cut off varies year to year.

Nitish Chandak: Which are the best schools for mba in finance in india?

Ranjit Goswami: IIM Cal and IIM Ahmedabad. IMT Ghaziabad has started offering few unique courses, both in cross-functional as well as pure financial areas. In my opinion, specialization in high-end finance courses are more suitable for students with some background in finance - including work-ex.

manisha satpute: I want to pursue MBA in entrepreneurship. where can i pursue it?

Ranjit Goswami: Within IMT, and in Nagpur, we focus on intrapreneurship as that's what matters more. If you specifically want to do specialization in entrepreneurship, I think ISB and SP Jain may offer that, along NMIMS. About 1st two, I am not sure whether these are full time PGDM/MBA, and on NMIMS - ensure it is there flagship program. At IMT Nagpur, our entrepreneurship cell scrutinizes and fine-tunes proposals.

Aatish Jagmanani: What are the new MBA programmes available at IMT?

Ranjit Goswami: Hi Aatish,This is good question as there is lot of misuse and confusion on new MBA programs in market. IMT Nagpur offers MBA in General Management, Marketing & Finance. You would be aware about AICTE had so far been regulating this. AICTE itself offers a limited choices, therefore there is a limitation for any B-School. However, within IMT Nagpur, and more so within the group, we offer most.

Vinayak Tavade: Why don't you consider CAT scores for admission?

Ranjit Goswami: We very much use CAT scores. For last two batches, 2012-14 & 2013-15, more than 95 per cent of our IMT Nagpur students came through CAT scores. If you go through our Group admission process (IMT Ghaziabad, IMT Nagpur, IMT Hyderabad & IMT Dubai - you can see we take it). Here is the link: http://rediff.ly/2mwwi

Nitin Deshmukh: Sir what is the admission procedure at IMT Nagpur like?

Ranjit Goswami: Hi Nitin, IMT Nagpur uses CAT, XAT, CMAT and GMAT scores. We use the scores for cut-off. Once a candidate is shortlisted, we judge him/her based on performances in GD/PI & past academic/extra-curricular records.